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11 January 2017 at 11:20

Super Summary of RBI circulars of demonetization

  POSTED BY AAM CA Pradeep Kumar Jain


  3 comments |   3930 Views

01 December 2016 at 11:41

Section 144 - A new avatar in the Companies Act On 'Auditor not to render certain services'

  POSTED BY P.R. Sethuraman

Section 144 of the Indian Penal Code is normally promulgated to avoid unlawful assembly of people with attempt to cause public disturbance. It is not on normal

  0 comments |   1568 Views

01 November 2016 at 16:09

Change - Law needs to move with time

  POSTED BY P.R. Sethuraman

The purpose of the article is to deal with on the consequential changes warranted on rules of law and regulatory requirements on business/ industrial domain

  1 comments |   1154 Views

15 October 2016 at 14:11

Internal audit as per companies act, 2013

  POSTED BY CS Mallika Gupta

Internal Audit is a Compliance test which has been mandated by Section 138 of the Companies Act, 2013 upon the Companies

  9 comments |   2938 Views

03 October 2016 at 10:47

Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

  POSTED BY P.R. Sethuraman

The purpose of the article is limited to the topic on Section 141 of the Companies Act, 2013 on Eligibility, qualifications and disqualification of auditors

  0 comments |   2495 Views

26 September 2016 at 10:25

Casual vacancy of auditor

  POSTED BY CS Divesh Goyal

Detailed analysis on casual vacancy of an auditor

  2 comments |   1869 Views

22 September 2016 at 10:46

Audit by department: Justified or not?

  POSTED BY Pradeep Jain

On one hand the courts have understood the pain of the assessees to be assessed by ineligible auditors and on the other hand the government does not want to let

  1 comments |   1585 Views

14 September 2016 at 10:39

Internal Financial Control

  POSTED BY P.R. Sethuraman

The first and foremost duty of auditors with regard to Internal Financial Controls over Financial Reporting is to see and get satisfied as to the framework set in place as specified in the Guidance Note and as �declared in Directors

  3 comments |   2964 Views

02 September 2016 at 11:00

Determining the Acquisition date as per Ind IAS 103 for Consolidated Financial Statements


The below article gives an overview of the guidance provided by Ind IAS 103 regarding the determination of Acquisition date for any business combination and how it is subject to interpretation.

  1 comments |   1401 Views

10 August 2016 at 11:13

Importance of communication with management during audit of financial statement

  POSTED BY CA Amrita Chattopadhyay

Since the auditor is required to maintain the audit evidences, the oral communication is needed to be documented.

  2 comments |   2543 Views

09 July 2016 at 11:29

Forensic Audit - A Modern Day Thrust and Thirst

  POSTED BY P.R. Sethuraman

Forensic Audit-a Modern Day Thrust and ThirstIntroduction: In the recent past, more so in the previous decade, accounting and auditing community witnessed and i

  5 comments |   5590 Views

27 June 2016 at 10:35

Internal Financial Controls - Practical approach in evaluating a Control


In current article we delve on the aspect of 'Auditors Role' and take one practical example of evaluating the control which influences the �Financial Reporting� (FR).

  0 comments |   2488 Views

22 June 2016 at 10:49

Develop & Establish Internal Financial Controls


The intention of this article is to embark upon a journey, which in its course continues to contribute series of articles in continuity thereby exploring the nuisance of the professional domain. See you soon in my next article in the series on IFC.

  3 comments |   1759 Views

07 June 2016 at 10:41

Significant changes introduced in the revised auditing standard - SA 570 going concern

  POSTED BY CA Amrita Chattopadhyay

The revised Auditing Standard introduced for SA 570 Going concern is for the audits of financial statements for the periods beginning on or after 01st April, 2017.Significant changes introduced in the standard:ScopeThe earlier standard which was effe

  0 comments |   1447 Views

03 June 2016 at 10:51

Ind AS 19 on Employee Benefits

  POSTED BY P.R. Sethuraman

Employee Benefits include and cover all forms of consideration given by an entity in exchange for service rendered by employees. Pictorially, it is mapped out below. Post-Employment Benefits are employee benefits (other than termination benefits

  3 comments |   3050 Views

20 May 2016 at 11:27

Audit of educational Institutions

  POSTED BY Abhishek Kumar

Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other

  6 comments |   3200 Views

29 April 2016 at 11:12

Shocking observations on auditors of listed companies

  POSTED BY CA Ravi Taori

Major changes were made in CA Act 1949 in year 2006 to improve quality of services given & punish CAs who indulges in professional misconduct. One of the very important change was introduction of Chapter VIIA, Sec 28A to 28D dealt with very power

  12 comments |   11824 Views

27 April 2016 at 11:05

Auditors Can Deliver Accurate, Swift Results with Integrated Business Intelligence Tools

  POSTED BY Arbuda Dave

When an enterprise engages in an audit process, it must have access to data from numerous systems and sources. This data will play a crucial role in gathering facts, analyzing processes, getting to the heart of issues and problems, uncovering and mit

  2 comments |   2542 Views

26 April 2016 at 11:55

Standards on Auditing - Not a choice but a compulsion

  POSTED BY Vivek Agarwal

What are Auditing Standards?The Standards on Auditing is an area which requires greater focus of CA in practice as well as our administrative bodies who are updating our members. The Companies Act 2013 has discussed it in detail which was absent in e

  2 comments |   5387 Views

23 April 2016 at 11:59

Transparency required in allotment of PSU and Bank Audit

  POSTED BY CA Gopal Rathi

Dear CA friends, Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF). There is

  6 comments |   3322 Views

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